On Porn and Hedge Funds

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If Tom Cruise hasn’t had much luck attracting hedge fund money, maybe it’s because they’ve got their media portfolios filled up with porn. We’d heard that a couple of funds were making money with porn investing but news that a hedge fund actually wants to buy an provider of pay-per-view porn surprised us. Here’s MarketWatch:

The worlds of pornography and hedge funds combined this month when activist-investment firm Steel Partners proposed a management buyout of New Frontier Media Inc., an adult-entertainment company.
During a recent New Frontier board meeting, Steel Partners manager Warren Lichtenstein told directors he was interested in leading a management buyout of the company and was willing to pay a premium, according to a Tuesday regulatory filing.

So we wondered, just how hardcore is this New Frontier stuff. Well, here’s what they are showing at 10 PM tonight: “Double Reamed And Creamed – Sandwiched between two hoses dealing out the luscious cream, these ladies have never felt so heavenly!” So, uhm, yeah. Pretty hardcore.

Steel Partners proposes New Frontier buyout
[MarketWatch]

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